This master thesis will cover the topic of the magical elements in The Song of the Nibelungs. The magical elements present in The Song of the Nibelungs are magical beings and magical objects connected to them. The Song of the Nibelungs is based on Nordic mythology but due the influence of chirstianic beliefs magic elements had been severely reduced or even completely deleted from The Song of Ninbelungs. Therefore, to interpret magical elements it is inevitable to reference older writings of Nordic literature and Nordic-germanic mythology. One of the most significant ones is The Edda, a collection of Icelandic stories which dates back from the same period as The Song of Nibelungs. Both stories handle the story of Siegfried, his life and destiny, but they handle it in different ways – one from the Norse perspective and the other from a Christian perspective. For example, the background of motives such as dragon fight, the cursed hoard and the dragon’s blood are only partially explained in The Song of Nibelungs. Furthermore, the back stories of important characters Siegfried and Brunhild lack complexity in The Song of Nibelungs while they are far more developed in The Edda. The magical objects that are carried and used by the characters are degraded to simple catalysts for the story and are almost devoid of magic. The background of the same magical objects and magic is important because it explains the meaning behind them and the role they play in the story.